Credit Cards Archives

By Candice Choi, AP Personal Finance Writer NEW YORK (AP) — With unemployment high and personal wealth diminished, how was it that strapped consumers were paying down their credit card debt last year? It turns out they probably weren't. The bulk of 2009's drop in credit card debt instead came because banks were forced to write off loans consumers failed to pay, according to an analysis of Federal Reserve data. Read more»

By Eileen A.J. Connelly, AP Personal Finance Writer NEW YORK (AP) — Not every letter from a credit card company is bad news these days. While millions of card users received notices of interest rate hikes and new fees in recent months, a select portion learned they're getting new perks. Read more»

NEW YORK (TheStreet) — One positive outcome from the economic downturn of the past two years is that consumers are paying down their credit card debt. Read more»

The British are coming, but this time it’s all about a new type of credit card that may change the way U.S. consumers use their plastic. It’s called “chip and PIN” and here’s how it’s set to change your credit card life — if it ever makes it over the big pond. Read more»

Whether consumers are doing so voluntarily or not, new credit card issues are down a whopping 54% at the end of 2009 compared to the end of 2007. The back story shows, however, that card issuers are getting decidedly picky about approving new credit cards in a sour economy. Read more»

By Eileen A.J. Connelly, AP Personal Finance Writer NEW YORK (AP) — Credit cards have moved to the top of the bill pile, displacing mortgages as the priority for many consumers. "It used to be clearly the case that consumers viewed their mortgage as their No. 1 payment obligation. That is no longer," said Mark Greene, CEO of FICO Inc., the producer of consumer credit scores. Read more»

Question: I read your article about the guy in Dallas who fought back against debt collectors and sued them successfully. What are my rights when dealing with collection agents and how can I tell when they’re crossing the line?— R. Keane, Wilmington, N.C. Read more»

New credit card rules have finally taken effect, curbing some of the most onerous practices, like jacking up rates on existing balances. So it’s time to relax, right? Actually, it may be time to brace for the worst. Read more»

By Candice Choi, AP Personal Finance Writer NEW YORK (AP) — It's meant to jolt borrowers from the complacency of debt: A new credit card statement that spells out the price of making only minimum payments. Yet the shock factor may be lost on the growing number of cardholders who bank online and no longer check their paper statements. Read more»